USD/CAD Moves Down, Canadian GDP Contracts

USD/CAD is trading at 1.3122, down 0.0030. The pair is trading at session lows. Market talk about U.S. and Canadian economic data is making the rounds. Statistics Canada reported that May real gross domestic product (GDP) contracted 0.6% versus 0.1 percent in the previous report. Producer prices (PPI) rose in June 0.6 percent versus a 1.2 percent rise in May. Year over year PPI was minus 0.8 percent versus minus 0.9 percent. Canada's Department Of Finance budget figures are due out at Friday at 11:00 a.m. ET.